Accutive Insights

Solving your Core Banking Integration Challenges with MuleSoft

Silos are a persistent problem in the banking industry. By stifling innovation, silos within your financial institution slow down your digital transformation and cause you to fall behind the competition. As the heart of most financial institutions, core banking systems are critical but often siloed off from other platforms. There are numerous reasons for siloed core banking such as legacy core systems, multiple core systems resulting from mergers or acquisitions, concerns over compliance and security, and technical complexity.

Without a holistic view of each of your customers, your financial institution is missing out on opportunities to deepen your customer relationships and enhance your service quality. As the leading API integration platform, MuleSoft is a powerful tool for your financial institution. Leveraging MuleSoft Accelerator for Financial Services, Accutive Fintech leverages API integrations with your core banking system to build a 360 customer view for your organization.

Core Banking API Integrations

Although core banking API integrations can be complex, the right technical guidance can empower your financial institution to build secure and robust integrations between your core banking system and other key platforms faster than you may expect.

To avoid being overwhelmed by your core banking integration project, break it down into intuitive process steps. This enables you to clearly see how you can arrive at the desired end goal of an integrated banking framework from your current state.

Integrating your Core Banking System in 6 Steps

  1. Assess your current systems and understand your integration needs: Understanding how integrations with your core banking system will unlock business value will help you prioritize your requirements and build your plan. Unsure of where to start? Accutive FinTech offers free MuleSoft assessments to set your financial institution on the right track.
  2. Selecting your integration approach and platform: First, understand the difference between MuleSoft and direct API integrations, and determine which approach is best for your financial institution. We recommend MuleSoft Anypoint to our FinTech clients as the optimal API integration platform for numerous reasons, including its security, scalability, stability and ease of use. Accutive FinTech works with our clients to develop a clear API integration architecture to achieve your business needs and technical requirements.
  3. Adopting API-Led Connectivity: An API-led approach, where different layers of APIs (System, Process, and Experience) are developed, will help modularize your integration process. This makes it easier for you to manage and allow you to reuse components, speeding up your deployments.
  4. Rapid Deployment with MuleSoft Accelerator for Financial Services: We work with your financial institution to customize the pre-built APIs and connectors in MuleSoft Accelerator for Financial Services to suit your financial institution’s systems, including your core banking system. As core banking API integration specialists, Accutive FinTech has worked with banks and credit unions of all sizes to design and implement both direct and MuleSoft-driven core banking API integrations.
  5. Rigorous Compliance and Security Standards: Your core banking data is vital and its protection is essential. Drawing upon our combined expertise in financial technologies and cybersecurity, Accutive works with you to establish robust security and compliance best practices. For robust data protection, we can integrate our test data management platform, Accutive Data Discovery + Masking with your core banking system to mask your sensitive core data before moving it away from your secure environment.
  6. Continuous Monitoring and Optimization: With MuleSoft, you can’t simply “set it, and forget it”. A strong MuleSoft practice requires establishing a robust API Governance framework, and aligning your operations with industry best practices. Accutive FinTech can work with your FI to set up systems for ongoing monitoring, maintenance and optimization as part of our initial engagement, or provide ongoing managed services that include support, maintenance and optimization for your MuleSoft Anypoint Platform. In both cases, our priority is ensuring that your core banking integrations remains efficient, up-to-date, and aligned with your evolving business objectives and technology landscapes.

How to Get Started

At this point, you may be asking “how do I get started?” or “where do I go from here?” Accutive FinTech can get you started on the right track with a complimentary core banking integration assessment. Over the course of one week, our MuleSoft certified integration experts will understand your technical and business needs and advise you on the first steps for your core banking integration.

For over a decade, Accutive FinTech has completed numerous core banking API integrations for some of North America’s most impactful banks and credit unions. Whether your core banking system is Temenos Transact / T24, Fiserv, FIS Core Banking, Symitar, or a custom build – we have the proven expertise to build secure and seamless API integrations to unlock your core banking data. Reach out to letstalk@accutive.com to get the conversation started today, or learn more about our MuleSoft services.

Accutive FinTech is the financial technologies arm of Accutive, a boutique firm for end-to-end cybersecurity and financial technologies services and solutions. Accutive FinTech specializes in MuleSoft Integrations for Financial Services, Temenos Journey Manager, Temenos LMS, AML Solutions, HID IDV, and LOS solutions. Accutive’s test data management platform, Accutive Data Discovery and Data Masking, is a powerful tool for data discovery, data subserving, data masking, data automation, and data tokenization.
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